just wondering what is the best rate for commercial right now?

I saw there is an offer for 120% loan for commercial - Maybank. Is it worth it or I should stick with 85%?

So far it seem CIMB is the only one offering 30 years for commercial...any other bank that I should try out?

rates could be going from 4.45% ++ depending on loan amount

It depends if you want to loan extra depending on your income able to take in the extra installment, the extra could be used for renovation or rolling the business purpose.

for more than 30 years tenure, not that I know of at the moment for other banks.

so far, it seem only RHB is giving 4.45 while the rest is pretty high. Let's use 1 million for reference for now.

I'm looking at semi-flexi

Which bank you've tried? Seems like you've done the application already and got the offers

so far, i got cimb, rhb and maybank only...

those are the bank which have our background so nothing much need to do

guys..need some advice

I would like to refinance my condo, which is co-owned by wife and myself.
Currently the condo is rented out.
Can I refinance the condo just to a single name? If can..how do I do it?
Refinancing from a co-owned to a single owner is equal to selling the property ad will incur RPGT if less then 5 years?

Thats my dilemma

Dear colt ,

1. Let me. Rephrase , property currently under you and your wife name .

SPA : A & B

Refinance to

SPA: A

2. Yes this can be done, do a normal refinancing. However ,changing spa ownership will incur cost exactly like purchasing a new house .

You will need to fork out for

1. Valuation fees
2. Legal loan fees
3 legal spa fees

3. To proceed, you would need to do a valuation on the property first and decide whether you want to cash out cash if your market value is higher than your outstanding loan amount.

Then I will assess your Max refinance amount and how much Max you can cash out . Then you can proceed with loan submission with consent from your co owner.

4. We consider it a transfer of ownership.

Cheers

This post has been edited by Madgeniusfigo: Jul 13 2016, 01:06 PM

Thank for the reply..roughly how much are cost involved?

Would you propose to refinance to A and B to save on the cost?

Ownership is joint but what about loan? Regardless existing loan is joint or single, you can refinance the loan without affecting the ownership, hence RPGT is a non-issue.

loan is also joint..

ok i got what you meant
as long as there is no changes in ownership then no RPGT will trigger

How about this scenario

Current Loan: A + B
Current Ownership: A + B

New Refinance: A
New Ownership: A

will this trigger RPGT?

Yes it does.

Actually these banks are giving best loan package in town. It depends your scoring and DSR on perspective bank. If you are looking for semi flexi loan, you may consider CIMB. Just my humble opinion.

This post has been edited by ngph988: Jul 13 2016, 12:47 PM

Hi All,

Im looking for soliciting service for house loan agreement for loan amount ~RM220500. I have been quoted from one of the solicitor firm for RM4k, wondering is that the common ?

Can refinance, just proceed with the S&P to transfer the name out and put into your name and refinance the loan under your name.

Yes it will incur RPGT, you will incur 50% of the share only since you're buying over 50% from your other half.

For DSR calculation to see if you can afford, fill in the details below for me to evaluate

Age
Gross pay
Nett pay
Rental Income
ASB
Bonus 2 years total

Commitment
House
Car
Personal Loan
Credit card outstanding
PTPTN

Current loan outstanding
How much do you want to refinance ?\

Any late payment in the past 12 months ?

Cost involved for refinancing is on the loan agreement depending on your loan amount

Yes this will trigger as A buys over B ownership

Seems fair, make sure it's a good lawyer.

Dear,

If for RM220,500 , purchasing for title freehold subsales property.

The fees disbursement will be allocated as below, but this is the highest tier calculation by few of the lawyer in town.

Professional Charges
Facilities Agreement 1,993.50
Charge Annexure 490
Entry and Withdrawal of Private Caveat 350
Statutory Declaration 100
Professional Charge 2933.5
Disbursement
Stamp duty on the Facility Agreement (Original) 2950
Stamp duty on the Facility Agreement (Copies) 20
Stamp duty on the Charge Annexure 40
Stamp duty on Letter of Offer 20
Registration Fee on Charge 120
Registration Fee on Entry and Withdrawal of Private Caveat 450
Affirming Fee/Bankruptcy Search 100
Stamping on Statutory Declaration (Owner Occupation/not a bankrupt) 40
Land Search 120
Documentation Fee 318
Transportation 300
Telephone Calls, Facsmile, Printing charges and couriers and etc 300
Miscellaneous 50

GST 6% 215.01
TOTAL 7976.51

sorry i shall address more on the property details earlier, is a Pr1ma housing new least hold unit. what will be the lowest price for only loan ageement fee + stamp duty, not including SNP and so on.

Dear,


Base on project and leasehold, the total legal loan fees will be as below:

Professional Charges


Facilities Agreement 2,113.11
Deed of assignment
Power of Attorney 350
Statutory Declaration 100
Professional Charge 2563.11


Disbursement


Stamp duty on the Facility Agreement (Original) 3000
Stamp duty on the Facility Agreement (Copies) 20
Stamp duty on the deed of assignment (COPY) 40
Stamp duty on the Power of attorney 40
Stamp duty on Letter of Offer 20
Affirming Fee/Bankruptcy Search 150
Stamping on Statutory Declaration (Owner Occupation/not a bankrupt) 40
CTC title (For Application of consent to charge) 50
Land Search 120
Documentation Fee 318
Transportation 300
Telephone Calls, Facsmile, Printing charges and couriers and etc 300
Miscellaneous 50

GST 6% 192.7866

Total: 7203.8966



2. above is the estimation of the highest collection fees by lawyer, so you can take it based on this and work around to reduce the payable amount. However, adding all the disbursement and so, it will amount to RM7K++ , becos calculation by internet or agent doesn't include disbursement calculation, usually there give you partial of the overall bill payable.

CHeers

This post has been edited by Madgeniusfigo: Jul 13 2016, 02:15 PM

Will need to look into your letter offer to get a more accurate quote but 4000 is cheap.

Bank Negara cuts OPR to 3%, how will it affect BR?

noob on this